COLUMBUS—State Representative Laura Lanese (R-Grove City) today announced that a sales tax holiday is set to be held the first weekend of August. The intent of the sales tax holiday, as established by legislation approved earlier this year, is to provide parents with some tax relief during back-to-school shopping in preparation for the new school year and to stimulate economic activity for Ohio’s retailers.
From Friday, August 4 through Sunday, August 6, certain items will be exempt from state and county sales and use taxes. Clothing items up to $75 each and school supplies or instructional materials up to $20 each will be free of taxes if purchased during this weekend. This includes a variety of items, from pencils and paper to pants and jackets to prepare for the fall.
“What's better than Black Friday? The sales tax holiday starting this weekend is because it helps boost Ohio businesses, and it helps Ohio families keep more of their hard-earned dollars in their pockets,” said Rep. Lanese. “In the past, the sales tax holiday has led to an increase in revenues and extraordinary savings for consumers, and we expect the same results this year.”
This year’s back-to-school sales tax holiday is the third consecutive one to be held in the state of Ohio, and legislators have already approved the tax-free weekend to again take place in 2018.
The first time the sales tax holiday occurred in 2015 an extra $4.7 million in consumption was generated, along with saving consumers approximately $3.3 million, according to a study produced by the University of Cincinnati.
The study also found that Ohio counties that border other states experienced a 15.48-percent increase in sales tax collection, leading to the conclusion that many out-of-state families traveled to Ohio to take part in the tax holiday.
It is the goal of the state legislature that this year’s sales tax holiday will produce similar results, ultimately saving Ohioans more money during their back-to-school shopping.